You're standing in front of a shiny ATM in the middle of Vörösmarty Square, the smell of chimney cake drifting through the air, and you're staring at a screen that wants to charge you 485 forints for every pound. It feels steep. Honestly, it probably is. Converting Hungarian currency to UK pounds—or the other way around—is one of those travel tasks that seems simple until you're actually doing the mental math with a bunch of extra zeros.
The Hungarian Forint (HUF) is a bit of a wild child in the European currency family. Even though Hungary has been in the EU since 2004, they’ve stuck by their forint like a stubborn relative. This means you can't just roll into Budapest with a pocket full of Euros and expect it to work everywhere. You’ve got to play the exchange game.
Why the math feels so weird
Basically, the forint is a "high-denomination" currency. In the UK, you might feel rich with a £50 note. In Hungary, a 20,000 Ft note is just a standard bill for a decent dinner and some drinks. As of early 2026, the exchange rate is hovering around 0.00225 GBP per 1 HUF.
To put it in terms that actually make sense: 1,000 forints is roughly £2.25.
If you're trying to do a quick conversion in your head while shopping, a good trick is to just think of 1,000 Ft as roughly two pounds and change. Don't let the big numbers on the banknotes scare you. It’s easy to feel like you’re spending a fortune when the bill says 15,000, but in reality, that's only about £33.
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The "Dynamic Currency Conversion" Trap
This is the big one. The mistake that kills your budget. When you pay by card or use an ATM in Hungary, the machine will often ask: "Would you like to be charged in GBP or HUF?"
Always, always choose HUF.
If you choose GBP (UK pounds), the local bank gets to decide the exchange rate. They call this "Dynamic Currency Conversion," which sounds fancy but it’s basically a license for them to skim 5% to 10% off the top. If you choose the local currency (HUF), your own bank back in the UK handles the conversion. Unless you have a really terrible bank, their rate will be much closer to the actual market price.
Cash or Card?
Hungary has moved fast on digital payments. You can use your contactless card at almost every coffee shop, ruin bar, and grocery store in Budapest. Honestly, you could probably survive a weekend without touching a single physical coin.
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However, if you head out to the countryside or visit the smaller stalls at the Great Market Hall, cash is still king. The forint comes in coins of 5, 10, 20, 50, 100, and 200. The 200 Ft coin looks a bit like a £2 coin—bimetallic with a silver center and a gold-colored ring. Don't mix them up in your pocket!
The banknotes are:
- 500 Ft (reddish-pink)
- 1,000 Ft (blue)
- 2,000 Ft (brown/green)
- 5,000 Ft (yellow/purple)
- 10,000 Ft (bright purple)
- 20,000 Ft (grey/blue)
Where to get the best rates
If you actually need physical cash, don't do it at the airport. Budapest Airport exchange desks are notorious for some of the worst rates in Europe. You’ll lose a significant chunk of your money before you even get to your hotel.
Instead, look for small exchange kiosks in the city center (districts VI and VII are usually good). Places like Correct Change or Gold Change are local favorites because they usually have very thin spreads—meaning the difference between the buying and selling price is tiny. Just keep an eye out for the "handling fee," which is a small tax required by Hungarian law.
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Current 2026 Outlook
The forint has been a bit of a rollercoaster lately. Economists at places like Erste Group and ING have been watching the National Bank of Hungary (MNB) closely. Right now, interest rates in Hungary are relatively high compared to the UK, which has actually helped keep the forint from crashing too hard.
But there’s a catch. With an election coming up in April 2026, there’s a bit of "fiscal noise" in the air. Governments like to spend money before elections, and that can sometimes make the currency wobble. If you’re planning a trip later this year, it might be worth keeping an eye on the news. If the forint weakens, your UK pounds will go even further.
Actionable Steps for your next conversion
If you're sitting on a pile of forints or planning to buy some, here is how you should actually handle it:
- Check the mid-market rate on a site like XE or Google right before you walk into an exchange shop. If the shop's rate is more than 2% away from that number, walk away.
- Use a travel-friendly card like Monzo, Revolut, or Starling. These cards give you the interbank rate without the hidden "tourist tax" that traditional high-street banks charge.
- Avoid the "Euro" option. Some restaurants in touristy areas will list prices in both HUF and EUR. Paying in Euros is almost always a bad deal. They usually use an exchange rate that's heavily tipped in their favor.
- Spend your coins. Most UK exchange bureaus won't take back Hungarian coins once you get home. They only want the notes. If you've got a pocket full of 100 and 200 Ft coins on your last day, use them to buy a coffee or some paprika at the airport.
The forint isn't going anywhere anytime soon. Despite all the talk of Hungary joining the Eurozone, there is still no official target date. For now, the "thousand-forint-math" is just part of the charm of visiting. Stay sharp, always pay in the local currency on the card machine, and you'll find that Budapest remains one of the best value-for-money cities in Europe for anyone carrying UK pounds.